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On July 13, 2016, China’s State Administration of Taxation (SAT) released Announcement on the Enhancement of the Reporting of Related-Party Transactions and Administration of Contemporaneous Documentation (Announcement 42). Announcement 42 replaces the current documentation regulations and replaces and modernizes the existing related-party transaction reporting forms. The release of Announcement 42 may come as a surprise to some taxpayers who have been expecting a circular on the revised special tax adjustment regulations, following on SAT Public Consultation Draft of a Circular on Implementation Measures for Special Tax Adjustments (Discussion Draft) released in September 2015.
At this month's executive breakfast, we welcome Mr. Simon Liu, partner of KPMG’s Global Transfer Pricing Services group to provide a presentation on:
• The main changes on the reporting and documentation requirements in Announcement 42
• The implications of Announcement 42 on compliance obligations and relevant transfer pricing arrangements of MNEs
• Other aspects addressed by the Discussion Draft and implications to MNEs’ operations and transfer pricing arrangements
• How MNEs can get ready in light of the new reporting and documentation rules and a generally more stringent transfer pricing environment.
AmCham China, Tianjin's monthly executive breakfast is a great opportunity to meet the members of the 2016 Executive Committee and become involved in the Tianjin professional community. Network and share information with your fellow members, while enjoying a delicious breakfast at a great price.
At this month's executive breakfast, we welcome Mr. Simon Liu, partner of KPMG’s Global Transfer Pricing Services group to provide a presentation on:
• The main changes on the reporting and documentation requirements in Announcement 42
• The implications of Announcement 42 on compliance obligations and relevant transfer pricing arrangements of MNEs
• Other aspects addressed by the Discussion Draft and implications to MNEs’ operations and transfer pricing arrangements
• How MNEs can get ready in light of the new reporting and documentation rules and a generally more stringent transfer pricing environment.
AmCham China, Tianjin's monthly executive breakfast is a great opportunity to meet the members of the 2016 Executive Committee and become involved in the Tianjin professional community. Network and share information with your fellow members, while enjoying a delicious breakfast at a great price.